Kansas Statutes 40-262. Same; succession national emergency lists; basis; conditions
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Terms Used In Kansas Statutes 40-262
- insurance company: shall mean and include all corporations, companies, associations, societies, fraternal benefit societies, reciprocal exchanges, persons or partnerships writing contracts of insurance, indemnity or suretyship in this state upon any type of risk or loss except insurance companies transacting business pursuant to the provisions of Kan. See Kansas Statutes 40-222c
- person: means any individual, aggregation of individuals, trust, association, partnership or corporation, or any affiliate thereof. See Kansas Statutes 40-222f
At any time the board of directors of a domestic insurance company may, by resolution, provide that in the event of such a national emergency and in the event of the death or incapacity of the president, the secretary or the treasurer of the company such officers, or any of them, shall be succeeded in the office by the person named or described in a succession list adopted by the board of directors. Such list may be on the basis of named persons or position titles, shall establish the order of priority and may prescribe the conditions under which the powers of the office shall be exercised.